Gladstone Land Corp (OQ:LAND)

Sector:  N/A Industry:  N/A
 
See Regulatory Filings on SEC
Company Contact
Address: SUITE 200, 1521 WESTBRANCH DRIVE
MCLEAN VA 22102
Tel: N/A
Website: https://www.gladstonefarms.com
IR: See website
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Key People
David J. Gladstone
Chairman of the Board, President, Chief Executive Officer 		Lewis Parrish
Chief Financial Officer, Assistant Treasurer 		Terry Lee Brubaker
Chief Operating Officer
Jay Beckhorn
Treasurer 		   
Business Overview
Gladstone Land Corporation is a real estate investment trust that acquires and owns farmland and farm-related properties located in various agricultural markets in the United States. The Company owns around 168 farms, comprised of 112,000 acres in 15 different states and 46,400 acre-feet of water assets in California. Its farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables. It also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards. Approximately 30% of the Company's fresh produce acreage is either organic or in transition to become organic, and over 20% of its permanent crop acreage falls into this category. The Company may also acquire property related to farming, such as cooling facilities and processing buildings, among others. Its adviser is Gladstone Management Corporation.
Financial Overview
For the fiscal year ended 31 December 2023, Gladstone Land Corp revenues increased 1% to $90.4M. Net loss applicable to common stockholders decreased 34% to $9.9M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects G/L on sale of inv properties - property increase from $3.8M (expense) to $5.2M (income).
Employees: 69 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $1,070M as of Dec 31, 2023
Annual revenue (TTM): $90.40M as of Dec 31, 2023
EBITDA (TTM): $72.14M as of Dec 31, 2023
Net annual income (TTM): -$9.85M as of Dec 31, 2023
Free cash flow (TTM): -$17.81M as of Dec 31, 2023
Net Debt Last Fiscal Year: $615.06M as of Dec 31, 2023
Shares outstanding: 35,838,442 as of Mar 21, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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